Detailed subjects of VAT payable include input tax, output tax deduction, paid tax, unpaid VAT, tax reduction and exemption, export tax deduction for domestic products, output tax, export tax rebate, input tax deduction and overpayment of VAT.

Account processing is as follows:

1. When purchasing goods, borrow raw materials/inventory goods, pay taxes-pay value-added tax (input tax), borrow accounts payable/cash on hand/bank inventory;

2. When selling goods, the income from the main business of borrowing bank deposits/accounts receivable/cash on hand/notes receivable shall be subject to tax payable-VAT payable-(output tax);

3. In case of material management loss, the tax payable for lending raw materials/inventory goods through the profit and loss of the property to be processed-the value-added tax payable (input transfer-out);

4. Carry forward the VAT payable at the end of the month, borrow the tax payable-VAT payable output-loan tax payable (input-transfer-out input)-unpaid VAT;

5. After paying the value-added tax at the beginning of the next month, borrow the tax payable-unpaid value-added tax, and borrow the bank deposit.

laws and regulations

Provisional Regulations of People's Republic of China (PRC) Municipality on Value-added Tax

Article 2 VAT rate:

(1) Unless otherwise specified in items 2, 4 and 5 of this article, the tax rate of taxpayers selling goods, services, tangible movable property leasing services or imported goods is 17%.

(2) Taxpayers sell transportation, postal services, basic telecommunications, construction and real estate leasing services, sell real estate, transfer land use rights, and sell or import the following goods at the tax rate of 1 1%:

1, agricultural products such as grain, edible vegetable oil and edible salt;

2, tap water, heating, air conditioning, hot water, gas, liquefied petroleum gas, natural gas, dimethyl ether, biogas, residential coal products;

3, books, newspapers, magazines, audio-visual products, electronic publications;

4, feed, fertilizer, pesticides, agricultural machinery, agricultural film;

5. Other goods specified by the State Council.

(3) Unless otherwise stipulated in Items 1, 2 and 5 of this article, the tax rate for taxpayers selling labor services and intangible assets is 6%.

(4) taxpayers export goods at zero tax rate; However, unless otherwise stipulated by the State Council.

(five) domestic units and individuals cross-border sales of services and intangible assets within the scope of the State Council, the tax rate is zero.

The adjustment of tax rate is decided by the State Council.